Oversea-Chinese Banking (OTCMKTS:OVCHY) Sets New 12-Month High – Here’s Why

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) reached a new 52-week high on Friday . The stock traded as high as $37.9710 and last traded at $37.9710, with a volume of 2852 shares changing hands. The stock had previously closed at $36.66.

Analyst Ratings Changes

Separately, Zacks Research downgraded Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Oversea-Chinese Banking Price Performance

The firm has a 50 day moving average price of $34.64 and a 200-day moving average price of $32.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.88 and a quick ratio of 0.88.

About Oversea-Chinese Banking

Oversea-Chinese Banking Corporation Limited (commonly known as OCBC) is a Singapore-based regional bank that provides a broad range of banking and financial services to retail, corporate and institutional customers. Its core activities include consumer banking, wealth management, commercial and corporate banking, treasury and markets, trade finance, and transaction banking. OCBC also conducts investment banking activities and offers asset management services, and its group structure includes insurance and other financial services delivered through affiliated subsidiaries and regional units.

The bank traces its origins to a 1932 merger of several Chinese-named banks in Singapore and has since grown into one of the region’s larger financial institutions with a significant presence across Southeast Asia and Greater China.